Animoca Brands subsidiary to launch collection of Olympics-themed NFTs

Jun 4, 2021 | The Block News | 0 comments

animoca-brands-subsidiary-to-launch-collection-of-olympics-themed-nfts

The International Olympic Committee (IOC) is partnering with popular blockchain gaming company Animoca Brands to launch a collection of Olympic-themed non-fungible tokens (NFTs). 

nWay, a subsidiary of Animoca Brands, developed the collection, which consists of digital versions of past Olympic pins — physical badges that are worn on lapels — as well as cross-play multiplayer video games. For many, the original Olympic pins are meant to be badges of honor which represent different aspects of the games.

Non-fungible tokens are collectibles stored on the blockchain which can represent items like photos, videos, audio and other digital files. The NFT collection is part of a new licensing agreement the San Francisco-based game developer, publisher and tech platform has established with the International Olympic Committee. 

According to a statement, the Olympic Pins, which will be available for sale on June 17, have different properties and levels of scarcity. The collection of pins commemorates the art and design of past Olympic Games, including posters, pictograms, mascots and more from the Olympics’ 125-year history. 

“Olympic pins started as a way to identify athletes, judges and officials, but over the past 125 years it has become an Olympic Games tradition, where everyone from athletes to event staff, journalists and spectators all take part to collect and trade pins in the Olympic Village and beyond,” said Timo Lumme, managing director of the IOC Television and Marketing Services. 

“They can now connect with the excitement of the Games in a whole new way and own a piece of Olympic history,” he added.

Collectors can purchase the pins in three main ways: by buying the pins directly from nWay’s website, by purchasing pins from other collectors on the NWayPlay marketplace, or for free by playing an Olympic-themed video game connected to nWayPlay. 

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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